L&G I cuts charges across index fund range

Legal & General Investments (L&G I) has cut the annual management charges across its index fund range by five basis points, in a move to bolster the appeal of its passive proposition.

L&G I has reduced the AMC across its core global index fund range from 0.3% to 0.25%. Meanwhile. the firm has cut its single country and regional index fund's AMC from 0.2% to 0.15%, including its flagship £4.2bn UK Index trust. Simon Pistell, managing director at the group, said 2013 could be a significant year for passive funds given the advent of RDR. "Interest in passive investing in the UK has steadily grown over the last two decades and 2013 could be a watershed moment," he said.  "The Retail Distribution Review and shift to a fee-based advice environment has increased th...